28 January 2022

Malaysia’s AirAsia Group Bhd has made a final decision on Friday to change the name of its listed holding company to Capital A Hubd as it seeks market awareness of its growing business portfolio beyond core budget airlines. Said.

The company’s aviation business has been hit hard during a pandemic by strict travel rules in Asia, and the Malaysian stock exchange has raised funds this month to strengthen its balance sheet, but financially. It is classified as in need.

Capital A has made significant investments in the payments business BigPay, the logistics division Teleport, and its mobile Super App, and has earned other sources of revenue, but is in the growth stage, September 30, 2021. The quarter that ended in was in the red.

Tony Fernandez, CEO of Capital A, said in a statement, “For the past two years, we will not rely solely on airfare, but to lay a solid foundation for a viable and successful future. We have overcome the recession. “

He added that the aviation business will maintain the well-known AirAsia brand in Asia.

The airline on Thursday reported that it had the highest number of passengers as it filled 80% of the seats offered in the fourth quarter of 2021 and travel rules began to be relaxed since the start of the pandemic.

“Domestic travel has already begun to recover in major markets,” Fernandez said. “We expect the borders to gradually reopen throughout 2022 and return to normal capacity for international services by mid-third of this year.”

Source: texasnewstoday.com

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